Is Nominal GDP Measured in Terms of Quantity or in Terms

question 147

Essay

Is nominal GDP measured in terms of quantity or in terms of dollars? If dollars,the value of the dollar from what period? Is real GDP measured in terms of quantity or in terms of dollars? If dollars,the value of the dollar from what period?

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Definitions:

Potential Reward

A possible benefit or gain that might be obtained as a result of taking a certain risk or engaging in a particular action.

Expectancy Theory

A motivation theory stating that an individual's willingness to exert effort is a function of the expected outcome, the value of that outcome, and the perceived likelihood that effort will lead to desired performance.

Realistic Job Previews

An HR tool that provides prospective employees with a true depiction of what their job would entail, including both positive and negative aspects.

Job Rotation

A human resources strategy where employees are moved between two or more jobs in a planned manner to expose them to different experiences and widen their skills.